According to Charlie Bilello, the S&P 500 closed at another all-time high, marking its 25th record close of the year for SPX, confirming ongoing equity strength; source: Charlie Bilello on X, Sep 16, 2025, and the linked YouTube video. For crypto traders, equity benchmarks matter because research has documented periods of positive correlation between major cryptocurrencies and US stocks since 2020, making SPX moves a relevant macro input for BTC and ETH risk models; source: International Monetary Fund research on rising crypto–equity correlation (January 2022) and Bank for International Settlements research on crypto–equity linkages (2023).